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@wiedsche: July 26th the number of shares short as of July 15th will be published. So you see the numbers are always outdated a week or two.
Look here for the dates.
Or here for the numbers.
So if the shorts where covered this week, we will know when the number is published on shares short per July 30th. That number will be made public on Aug 10.
Pope then would sell for a loss? They got their at $8 I think?
I think MM have been working to get shorts covered. Last time there where about 66k shares short, I bet next time that will be a lot less.
I had expected a much better performance. I really don't see why we are "sinking". Fundamentals only getting better I would say (new drug, expansion plan with land, new CEO) so I will be holding on to my shares.
Probably will stay quiet untill numbers on FY2010 are out. Or do you expect other news earlier?
Could be they PR something about the completion of upgrade Hongrui-facility. Or they could bring a PR out on plans with the land. Acquisition, new drug(s).
I really don't know...
Would be nice if Jiangbo brings out a PR on how the meeting with investors went. They attended some conference yesterday, I believe?
Let's see if our new CEO knows how to spread the word through the investing community...
The info has been put out: new drug, uplisting, new ceo. The awareness is what we are missing.
My best guess is that we have to wait a few weeks before further info gets out: Q4 report is due Aug/Sept. or so?
I bought another 100 shares. We can't go lower than this or can we?
Maybe the numbers on Q4 aren't going to be as good as we expect, I guess somebody knows already.
Or are the marketmakers giving shorty a chance to cover?
But we do have a new CEO!
Jiangbo Pharmaceuticals Announces the Appointment of New Chief Executive Officer
LAIYANG, China, July 1 /PRNewswire-Asia-FirstCall/ -- Jiangbo Pharmaceuticals, Inc. (Nasdaq: JGBO) (the "Company" or "Jiangbo"), today announced the appointment of Mr. Linxian Jin, a pharmaceutical industry veteran in China, as the Company's Chief Executive Officer (CEO) effective July 1, 2010. As part of an effort to continue to strengthen the senior management team, Mr. Jin will take over the role of CEO from the Company's Chairman, Mr. Wubo Cao, who resigned on June 29, 2010. Mr. Cao will continue his role as Chairman of the Company's Board.
With 20 years working experience in the pharmaceutical industry, Mr. Jin brings with him a wealth of knowledge and experience in production management, cost control, material management, quality control, safety and environmental management, marketing and sales. He also has significant experience with the Chinese, European Union and U.S. GMP certification.
Mr. Jin joined Laiyang Jiangbo Pharmaceuticals, Inc., the wholly owned subsidiary of the Company, as Deputy General Manager of Production Technology in April 2008. Previously, he had been the General Manager of Shandong Luxi Pharmacy Co., Ltd and Deputy General Manager of Shandong Quancheng Pharmaceutical Co., Ltd. From October 2000 to June 2006, Mr. Jin served as Deputy General Manager with Zibo Hualong Pharmaceutical Co., Ltd. and Linuo Group Jinan Yongning Pharmaceutical Co., Ltd. He began his career in 1990 with Shandong Zaozhuang First Pharmaceutical Factory, where he held positions of increasing responsibility including as the Head of Quality Inspection Department, Production Manager, Marketing Manager, and Assistant to General Manager during his ten-year tenure. Mr. Jin holds a bachelor degree with a major in Chemical Pharmaceutical from East China University of Science and Technology.
"I am delighted to join Jiangbo. I believe that Jiangbo is a company with significant growth momentum and a promising future in China's rapidly growing pharmaceutical industry. I congratulate Mr. Cao and the entire team on the achievement of a significant milestone in Jiangbo's history with the listing on the NASDAQ Global Market," said Mr. Jin. "Together with the rest of Jiangbo's management team, I plan to work hard to better define and execute a strategic plan that maximizes Jiangbo's growth potential and returns value to our shareholders."
Mr. Cao, Chairman of Jiangbo's Board, said, "On behalf of the Board, I welcome Mr. Linxian Jin as the new CEO of Jiangbo at a critical turning point in the Company's development when we require a deeper senior management team to achieve our strategic objectives. Mr. Jing brings considerable experience and leadership to Jiangbo and I believe that he is well-qualified to guide the Company through the next chapter of its growth. We both share a common belief in this Company's potential to continue to capitalize on its strong position in China's large pharmaceutical market."
About Jiangbo Pharmaceuticals, Inc.
Jiangbo Pharmaceuticals is engaged in the research, development, production, marketing and sales of pharmaceutical products in China. The Company's operations are located in Eastern China in an Economic Development Zone in Laiyang City, Shandong Province. Jiangbo produces both western and Chinese herbal-based medical drugs in tablet, capsule, granule, syrup and electuary (sticky syrup) form. For additional information, please visit the Company's website ( http://www.jiangbopharma.com ).
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties. Actual results may differ materially from anticipated or predicted results, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's ability to execute its strategic plan. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
For more information, please contact:
Jiangbo Pharmaceuticals, Inc.
Ms. Elsa Sung, CFO
Phone: +1-954-903-9378 x2
Email: elsasung@jiangbo.com
Web: http://www.jiangbopharma.com
CCG Investor Relations
Mr. Crocker Coulson, President
Phone: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
SOURCE Jiangbo Pharmaceuticals, Inc.
-0- 07/01/2010
/CONTACT: Elsa Sung, CFO of Jiangbo Pharmaceuticals, Inc., +1-954-903-9378 x2, elsasung@jiangbo.com; or Crocker Coulson, President of CCG Investor Relations, +1-646-213-1915, crocker.coulson@ccgir.com/
/Web site: http://www.jiangbopharma.com /
Read here!
(JGBO)
I thought short interest would have been lowered. We are on Nasdaq so what can go wrong, it seems to be risky to be short on Jiangbo. But still there are 59k shares sold short...
Look here
Someone is going to loose money to buy these shares back...
Do I understand correctly:
OTCBB and Pinksheets: not-marginable
Nasdaq, NYSE etc: marginable
Why do you guys think that this is so important?
That is okay, I have more time than money.
I hope Jiangbo will change this...it will, sooner or later.
What a bunch of bullshit: lower on higher volume :-\
I like the ask better which is shown now: $20. I doubt if shares will be traded at that level soon. But if it takes a month or two that is fine with me also...
You right on that! Let us hope that the trend has turned and Jiangbo's pps has finally found the (slow and steady) way up!
Nice to see you are still around! Back form overseas or are you still out of the country? Have you been following JGBO lately?
Even our moderator has lost faith I guess...
I have been trying to find out because I was wondering about the same. Will they be reporting earlier since they are listed on Nasdaq? I don't think so, at least they haven't changed that Q&A on their website and I can't find anything (sofar) on the Nasdaq site. So I guess, we will still have to wait 10 weeks.
I have noticed something that makes me hopefull for the coming months. On June 30th, the last quarter of fiscal year 2010 ends.
We don't know how much net income Jiangbo will generate. But let's assume that it generates the same net income as it did in Q4 of fiscal year 2009. That was approx. 11.5 Million.
So let's estimate what JGBO generates this year
Q1 FY 2010 1,972,000
Q2 FY 2010 5,508,000
Q3 FY 2010 15,184,000
Q4 FY 2010 11,500,000 (assumption)
That adds up to $34 Million, that's means EPS of 34/12 = $ 2.83
For the complete fiscal year 2009 Jiangbo generated a net income of $ 28.88 Million. So for FY 2010 this means growth of >20%!
Check the numbers yourself here and here
I think patience will be rewarded...
@Herbieholt57:
I think those numbers will be made public after June 30th. Each quarter the numbers are updated and made public. As far as I know there are no other ways to find out how much they posses. March 31st Pope held 214,0000 shares.
@LastOne:
Latest outstanding about 12 Million I believe?
@Everyone:
The document I linked to, isn't all up-to-date I see... (for example: website adress)
A lot of numbers to look at:
Maybe it will draw some attention
Finally a new drug!
Jiangbo Pharmaceuticals Receives Approval for Felodipine Sustained Release Tablets
LAIYANG, China, June 10 /PRNewswire-Asia-FirstCall/ -- Jiangbo Pharmaceuticals, Inc. (Nasdaq: JGBO) (the "Company" or "Jiangbo"), today announced that the Company received approval from the Chinese State Food and Drug Administration ("SFDA") to start producing Felodipine sustained release ("SR") tablets.
Felodipine SR is a well recognized generic drug to treat hypertension and is listed in China's Basic Medical Insurance Catalog for medical coverage. A 2009 study conducted by researchers in the U.S. and China, led by Tulane University, estimated that approximately 153 million people had hypertension in China and less than 5% of the hypertensives received treatment. While there are currently several other pharmaceutical companies selling Felodipine SR tablets, the Company believes that the market opportunity is very large and plans to leverage its strong national distribution relationships to effectively penetrate the market and gain share. Many of Jiangbo's current distributors have expressed interest in cooperating with the Company to distribute Felodipine SR tablets and Jiangbo also expects to initiate discussions with numerous new distributors to help expand the marketing of this drug across retail and hospital sales channels.
Jiangbo believes that it has the necessary manufacturing equipment and capacity to produce Felodipine SR tablets. The Company expects to complete the pilot production requirements and receive final distribution approval from Shandong Food and Drug Administration in July 2010. The Company plans to initiate commercial distribution immediately following the receipt of such approval. Management anticipates the drug to be a meaningful contributor to its revenue and profit starting in fiscal 2011 and estimates revenue potential for this drug to be between $8 million and $12 million in the first twelve months of launch with a projected gross margin of at least 70%.
"We are very excited to receive this important approval to produce Felodipine SR tablets, which we believe will be a key revenue and profit growth driver for us in the next few years," said Mr. Cao Wubo, Chairman and CEO of Jiangbo Pharmaceuticals. "We are already preparing for the commercial production and launch of Felodipine SR tablets and plan to carefully select distributors to maximize our commercial opportunity for this new drug. We believe the addition of Felodipine SR tablets will enrich our product portfolio and strengthen our competitive market position, while providing more cost effective new medicine to meet growing patient demand."
About Jiangbo Pharmaceuticals, Inc.
Jiangbo is engaged in the research, development, production, marketing and sales of pharmaceutical products in China. The Company's operations are located in Eastern China in an Economic Development Zone in Laiyang City, Shandong Province. Jiangbo produces both western and Chinese herbal-based medical drugs in tablet, capsule, granule, syrup and electuary (sticky syrup) form. For additional information, please visit the Company's website ( http://www.jiangbopharma.com ).
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties. Actual results may differ materially from anticipated or predicted results, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's ability to successfully launch and commercialize Felodipine SR tablets, obtain raw materials needed for product manufacturing, anticipated sales volume growth of the drug, the failure risks inherent in testing any new drug, the possibility that regulatory approvals may be delayed or become unavailable, patent or licensing concerns that may include litigation, direct competition from other manufacturers and product obsolescence. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
For more information, please contact:
Jiangbo Pharmaceuticals, Inc.
Ms. Elsa Sung, CFO
Phone: +1-954-903-9378 x2
Email: elsasung@jiangbo.com
Web: http://www.jiangbopharma.com
CCG Investor Relations
Ms. Lei Huang, Account Manager
Phone: +1-646-833-3417
Email: lei.huang@ccgir.com
Web: http://www.ccgirasia.com
Mr. Crocker Coulson, President
Phone: +1-646-213-1915
Email: crocker.coulson@ccgir.com
SOURCE Jiangbo Pharmaceuticals, Inc.
-0- 06/10/2010
/CONTACT: Jiangbo Pharmaceuticals, Inc., Ms. Elsa Sung, CFO, +1-954-903-9378 x2, or elsasung@jiangbo.com; CCG Investor Relations, Ms. Lei Huang, Account Manager, +1-646-833-3417, or lei.huang@ccgir.com; Mr. Crocker Coulson, President, +1-646-213-1915, crocker.coulson@ccgir.com /
/Web site: http://www.jiangbopharma.com
http://www.ccgirasia.com /
(JGBO)
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I did too. We all did, anyone who states he didn't expect a major move up to prices above $10 is fooling himself...
Other stocks that moved too Nasdaq all made moves. Jiangbo doesn't, what th F*&^% is it that we are missing?
Therefore:
I wonder what tomorrow will bring as for the huge volume and shareprice I had expected? Today's trading surely makes me wonder...are we still that much under the radar?
Jiangbo hasn't specified what capital they will be needing.
There are about 12 million shares outstanding.
Congratulations to all longs!! It is a fact: Nasdaq!
June 8th
Nasdaq here we come!
Let's wait until the official PR is out...
Do I read Nasdaq?
See for yourself!
Maybe when they first applied they thought they would meet the requirements within standard 4. But since that market-cap is too high because we couldn't maintain a high enough shareprice, they will have to wait to comply under another standard, and then no. 1 is the only possible one, but only after June 30th. 2010.
Just a guess... why else is it taking more than a year to get listed... ?!?!?
I don't think so:
They want to qualify for Nasdaq Global Select I believe. My best guess is they will qualify through listing standard 1. That requires 3 positive years to qualify, therefore I think that will be after June 30th 2010.
Am I wrong or missing something?
Read requirements here, see page 1.
It seems that we are not going to get listed on Nasdaq in companies fiscal year 2010. June 30th is getting close, will Jiangbo make it before?
Let's assume FY 2011 is the year when all things fall in to place... (or is this wishfull thinking against all odds?)
Pope has been awarded some more shares the last quarter:
see this. It also makes clear another investment company is getting interested: Rochdale Investment
In my portfolio Jiangbo is gaining value every day, not because of the rise of the shareprice but because of the euro weakening against the dollar! Maybe I should sell...
No, I guess I'll hold on a little longer, lots of potential stil here:
- uplisting
- plans with the newly acquired land
- new drugs in pipeline (will they ever come out of it?!?)
- Hongrui facility being even further upgraded
- 100 Million cash can acquire a few nice new blockbusting drugs
Now let's see when all this really does come true...
The numbers on Q3 are here:
Jiangbo Pharmaceuticals Reports Results for Third Quarter of Fiscal Year 2010
LAIYANG, China, May 17 /PRNewswire-Asia-FirstCall/ -- Jiangbo Pharmaceuticals, Inc. (OTC Bulletin Board: JGBO) ("Jiangbo" or the "Company"), a pharmaceutical company with its principal operations in the People's Republic of China, today announced financial results for the third quarter fiscal year 2010 ended March 31, 2010.
Third Quarter Highlights
-- Revenue was $25.6 million, a slight decrease of 0.6% year-over-year
-- Gross profit was $18.6 million, as compared to $18.9 million, and gross
margin was 72.7%, as compared to 73.4% in the year ago quarter
-- Operating income rose 3.1% to $13.7 million
-- GAAP net income was $15.2 million, or $1.33 per basic share, compared
$8.9 million or $0.86 per basic share a year ago
-- Excluding loss from discontinued operation, non-cash gain or loss
related to the change in fair value of derivative liabilities,
unrealized gain or loss on trading securities, and amortization
expenses for debt discount and financing cost, non-GAAP adjusted net
income was $7.7 million, or $0.50 per diluted share, as compared to
non-GAAP adjusted net income of $10.1 million, or $0.68 per diluted
share.
"Our third quarter operating income returned to growth as a result of strengthened sales effort and improved operational efficiency stemming from our continued cost control efforts," said Jiangbo's Chairman and CEO, Mr. Wubo Cao. "Sales of several of our key products, including Clarithromycin sustained-release and Radix Isatidis, experienced strong year-over-year growth and reflected the recent reinforcement of our sales effort and distribution channels. We continue to evaluate strategic opportunities to cost-effectively market our key products to deliver organic revenue growth in future quarters."
Third Quarter Fiscal Year 2010 Results
Total revenue for the three months ended March 31, 2010 was $25.6 million, compared to $25.7 million for the three months ended March 31, 2009. Sales volume for Clarithromycin sustained-released tablets grew 23.0% year-over-year as a result of the Company's reinforced sales efforts and tighter management of its distribution channels. Similarly, sales volume for Radix Isatidis dispersible tablets rose 44.7% over the prior year quarter. Strong sales growth of these two products was offset by a decline in sales volume for Itopride Hydrochloride granules and Baobaole chewable tablets, which were down 10.8% and 35.9%, respectively. Itopride and Baobaole continued to experience competition from similar products, including some that are included in the National Basic Medical Insurance Catalog. As the sales growth of OTC drugs, such as Baobaole chewable tablets and Radix Isatidis dispersible tablets, require continued support through advertising and promotion, management is evaluating the appropriate investment in TV advertising to drive the sales.
Gross profit in the third quarter was $18.6 million, as compared to $18.6 million in the prior year period. Gross margin decreased to 72.7% from 73.4%, primarily due to changes in the sales of product mix.
Selling, general and administrative expenses were $3.8 million for the three months ended March 31, 2010, down 15.1% from $4.5 million in the prior year period and primarily reflected the Company's more effective cost control efforts. Year-over-year spending reduction stemmed primarily from lower advertising, marketing and promotion, as well as salaries, wages and related benefits.
Research and development expenses totaled $1.1 million, consistent with those in the prior year period. The Company is obligated to make monthly payment to the designated university/institute to support two cooperative research and development agreements which were signed in fiscal 2008.
Income from operations rose 3.1% to $13.7 million from $13.3 million, primarily reflecting lower year-over-year operating expenses.
Other income was $5.0 million, as compared to other expenses of $1.1 million for the three months ended March 31, 2009. The increase was mainly due to an $11.6 million non-cash gain related to the change in the fair value of derivative liabilities, partly offset by $6.6 million interest expenses and non-cash amortization expense related to debt discount and debt issuance costs related to the convertible debentures, as compared to $1.2 million in the third quarter of 2009.
GAAP net income for the three months ended March 31, 2010 was $15.2 million, as compared to $8.9 million in the year ago quarter. Basic earnings per share (EPS) were $1.33, compared with $0.86 a year ago. Diluted EPS assumes the conversion of the Company's convertible notes and is calculated by adding interest expenses to and deducting the unamortized loan issuance costs and debt discount from net income. As a result, the Company recorded earnings of $0.02 per diluted share, as compared to a loss of $1.49 per diluted share in the same quarter last year.
Excluding loss from discontinued operation, non-cash gain or loss related to the change in fair value of derivative liabilities, unrealized gain or loss on trading securities, and amortization expenses for debt discount and financing cost, non-GAAP adjusted net income was $7.7 million, or $0.50 per diluted share, as compared to non-GAAP adjusted net income of $10.0 million, or $0.68 per diluted share a year ago.
Hmm, I see there are some filings form earlier quarters that have been updated or something like that. Is it good or bad news, what has been edited?
It won't take long before we'll know how well the next 10Q is written. I am very curious if we'll see any of the big promisses coming true.
I've said it before, time will tell.
You guys really are believers. I personally am beginning to doubt credibility of Jiangbo. A lot of promises so far, it's about time they deliver: what about the pope deadline on uplisting? Don't they think we want a status update on that? Promised new drugs? Acquistion? Further plans with land-deal? New controller, new director?